European stocks set to react positively to soft U.S. inflation data
Istanbul, May 16 (Hibya) - European stocks are set to open in positive territory Thursday, buoyed by a relief rally for global markets following softer-than-expected U.S. inflation data.
Data released Wednesday showed that the U.S. consumer price index rose 0.3 percent in April, below the 0.4 percent rise predicted by the Dow Jones. Consumer prices still grew 3.4 percent from a year ago, which aligns with market estimates, but the data has encouraged traders to believe that the U.S. Federal Reserve could begin to cut rates shortly.
Asia-Pacific markets experienced an upswing on Thursday, mirroring the record highs of Wall Street benchmarks overnight, a direct result of the global relief rally triggered by the U.S. inflation data. This underscores the influence of global dynamics on market reactions, keeping the audience informed and aware.
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